Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Cross Above 200 Day Moving Average – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $154.96 and traded as high as $158.00. Direxion Daily Financial Bull 3X Shares shares last traded at $155.44, with a volume of 652,538 shares changing hands.

Direxion Daily Financial Bull 3X Shares Stock Down 1.6 %

The stock’s fifty day moving average price is $167.51 and its 200 day moving average price is $154.97. The stock has a market cap of $2.40 billion, a PE ratio of 14.21 and a beta of 3.18.

Institutional Investors Weigh In On Direxion Daily Financial Bull 3X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAS. PNC Financial Services Group Inc. boosted its holdings in Direxion Daily Financial Bull 3X Shares by 11.4% in the third quarter. PNC Financial Services Group Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $1,055,000 after purchasing an additional 832 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the third quarter worth approximately $226,000. Captrust Financial Advisors boosted its holdings in Direxion Daily Financial Bull 3X Shares by 20.4% in the third quarter. Captrust Financial Advisors now owns 4,920 shares of the real estate investment trust’s stock worth $639,000 after purchasing an additional 835 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the third quarter worth approximately $187,000. Finally, JPMorgan Chase & Co. bought a new position in Direxion Daily Financial Bull 3X Shares in the third quarter worth approximately $191,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X Shares Company Profile

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Index). The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market.